For those who don’t yet know, I ended up buying a house in Rolleston. Essentially the RBNZ’s so called “money printing” finally got to me. I feel I had to act to stop any further erosion of my savings base.
The financial system seems to have evolved to rewarding property investments and speculating as opposed to encouraging economically productive activities such as hard work, toil and enterprise. The money simply isn’t getting to the small and medium business which I feel matter most to the economy.
There still remains several unanswered questions as to why LVR’s were removed on Investment property in the first place which I still assert was a rather ill thought out move. People seem to have turned to defending the RBNZ as simply being a bystander in all of this but I personally still hold them jointly culpable (along with the Government) for Housing affordability issues.